Benchmark Bank is pleased to announce that Chad Lyons is joining the team as Houston-area President. Born and raised in Houston, Chad was most recently a Senior Banking Relationship Advisor with Northern Trust. In his new role at Benchmark Bank, he will focus on cultivating loan and deposit relationships in the Houston metro area. Chad holds a Bachelor’s degree from the University of Texas at Austin and a MBA from the University of St. Thomas in Houston. He and his wife reside in Houston and have three wonderful children.

This purpose of this letter is to inform you of upcoming changes to federal regulations that may impact what we are required to obtain when you open or renew your accounts that are owned by a legal entity. Effective for accounts opened or renewed starting May 1, 2018, Benchmark Bank and its affiliates will require additional information from legal entities, including information on individual ownership and management control of the entity. The enclosed Certification Form provides further detail on the new requirements and the explanation as to why it will be requested moving forward. Furthermore, this should help to answer the question of who is considered a “legal entity” for purposes of this regulatory update.
What does this mean for you? Whenever there is an update to an account (deposit account, certificate of deposit, loan account, safe deposit box account) owned by a legal entity, Benchmark Bank will require completion of a Certification Form. Accounts opened prior to May 1st will not require a Certification Form, unless this is warranted due to a renewal, an account update, or other activity as required by federal regulation.
We appreciate your cooperation with these changes.
If you have any questions or concerns, please contact your account officer. You are also welcome to reach me directly at (972) 673-4096 or cphillips@benchmarkbank.com.
Thank you for banking with us!